Pegasus Partners Ltd. Sells 728 Shares of McDonald’s Co. (NYSE:MCD)

Pegasus Partners Ltd. lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 24.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,223 shares of the fast-food giant’s stock after selling 728 shares during the period. Pegasus Partners Ltd.’s holdings in McDonald’s were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the period. Capital Research Global Investors boosted its holdings in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares in the last quarter. Swedbank AB acquired a new stake in McDonald’s in the first quarter valued at approximately $348,206,000. Capital World Investors increased its holdings in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new position in shares of McDonald’s during the second quarter worth approximately $110,321,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,596 shares of company stock worth $10,698,289. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. KeyCorp boosted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets upped their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Truist Financial lowered their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Stock Up 1.5 %

MCD opened at $298.97 on Friday. The business’s fifty day simple moving average is $299.08 and its 200 day simple moving average is $276.64. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a market cap of $214.46 billion, a PE ratio of 26.25, a P/E/G ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. As a group, equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 58.65%.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.